Yupp, pensioners (especially in the US) are a big problem to plans like this.
Ideally (state) pensions would become obsolete and retirement funds would become an entirely personal issue (as they've largely become in Germany btw -- the tax-funded pensions will at best barely keep you above the poverty line even if you've worked every day since from 18 to 65).
So as far as pensions go you will have to go with an unfair transitional period. You could freeze the pensions and pay them out in proportion to the (now discontinued) contirbutions (which at least in Germany is how it works already) on top of the BI. But for pensioners you pretty much end up allowing them to "double dip" or drawing some arbitrary cut-off line for who will receive BI or only grant BI in proportion to the pensions.
But as you may have noticed I'm not well-versed when it comes to US pension systems. I'm assuming it's similar to ours but considering even healthcare was purely defined by the employment contracts until fairly recently I wouldn't be surprised if it's drastically different.
Ideally (state) pensions would become obsolete and retirement funds would become an entirely personal issue (as they've largely become in Germany btw -- the tax-funded pensions will at best barely keep you above the poverty line even if you've worked every day since from 18 to 65).
So as far as pensions go you will have to go with an unfair transitional period. You could freeze the pensions and pay them out in proportion to the (now discontinued) contirbutions (which at least in Germany is how it works already) on top of the BI. But for pensioners you pretty much end up allowing them to "double dip" or drawing some arbitrary cut-off line for who will receive BI or only grant BI in proportion to the pensions.
But as you may have noticed I'm not well-versed when it comes to US pension systems. I'm assuming it's similar to ours but considering even healthcare was purely defined by the employment contracts until fairly recently I wouldn't be surprised if it's drastically different.